§ 536a-11

536A.11 Denial of license. 1. If the superintendent shall not approve the application, the superintendent shall prepare a written denial of the application with a written finding of facts which shall be sentby certified mail to the applicant. Within fifteen days after mailing of notice of the denialof its application, the applicant may file with the superintendent a written demand for ahearing on the application. Upon such demand being made, the superintendent must withinthirty days hold a formal hearing at the superintendent’s office in Des Moines, Iowa, noticeof the time of which hearing shall be given by the superintendent to the applicant by mailwithin fifteen days after the filing of the written demand by the applicant. Notice of the timeand place of hearing shall also be given by the superintendent to all corporations holdinglicenses to engage in the industrial loan business in the county where the applicant proposesto establish its business and notice of said time and place of hearing shall be publishedpursuant to section 618.14. 2. At the formal hearing after the original denial of the license by the superintendent, the applicant shall be entitled to present evidence in

f hearing shall be publishedpursuant to section 618.14. 2. At the formal hearing after the original denial of the license by the superintendent, the applicant shall be entitled to present evidence in support of the application. The superintendent shall then grant or deny the application for a license within thirty days fromthe date of the formal hearing and give notice to the applicant by a decision and findingof facts in writing. If the application for a license is disapproved and a license is denied,the superintendent shall refund the annual license fee which was required to be depositedby section 536A.7 providing the cost of investigation does not exceed the investigation fee.If the cost of investigation exceeds the investigation fee, the excess cost shall be deductedfrom the license fee before any refund is made. 3. Judicial review of actions of the superintendent may be sought in accordance with the terms of the Iowa administrative procedure Act, chapter 17A. [C66, 71, 73, 75, 77, 79, 81, §536A.11]2003 Acts, ch 44, §114; 2018 Acts, ch 1041, §127 Sat Dec 23 01:39:16 2023 Iowa Code 2024, Section 536A.11 (17, 0)